Skanska builds subsea tunnel in Rogaland County, Norway, for NOK 5 billion, about SEK 5.2 billion

Rhea-AI Summary

Skanska has secured a contract valued at approximately NOK 5 billion (around SEK 5.2 billion) with the Norwegian Road Authority for the construction of a subsea tunnel in Rogaland County, Norway. This project, part of the E39 Rogfast initiative, will include building the northern section of the Boknafjord tunnel, making it the longest and deepest subsea road tunnel globally, reaching depths of 392 meters. Construction is slated to commence in Q1 2023 and is expected to conclude by Q3 2029, contributing to the Nordic order bookings for Q4 2022.

Positive

• Secured a NOK 5 billion contract, enhancing future revenue.
• The project will establish the world's longest and deepest subsea road tunnel.

Negative

• None.

STOCKHOLM, Dec. 12, 2022 /PRNewswire/ -- Skanska has signed a contract with the Norwegian Road Authority to build a subsea tunnel in Rogaland County, Norway. The contract is worth approximately NOK 5 billion, about SEK 5.2 billion, which will be included in the Nordic order bookings for the fourth quarter 2022.

The E39 Rogfast project is a 27 km long subsea road tunnel - the Boknafjord tunnel - between the municipalities Randaberg and Bokn in Rogaland County, Norway. The project is divided into segments, and the contract Skanska has signed is called E04 Boknafjord tunnel North.

The tunnel will become the world's longest and deepest subsea road tunnel with a maximum depth of 392 meters below sea level. Skanska will build the northern part of the Boknafjord tunnel. It is a twin tunnel, and Skanska will construct 18.5 km of road in tunnel and 2 km of road above ground.

Construction is expected to begin in the first quarter 2023 and will be completed in the third quarter 2029.

CONTACT:

For further information please contact:

Audun Lågøyr, EVP Communications, Skanska Norway, tel +47 934 525 31.

Matti Kataja, Acting Head of Media Relations and Public Affairs, Skanska AB, tel +46 (0)10 449 67 98

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

The following files are available for download:

https://mb.cision.com/Main/95/3681130/1726546.pdf

20221212 NO Subsea Tunnel

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SOURCE Skanska

FAQ

What contract did Skanska secure in December 2022?

Skanska signed a contract worth approximately NOK 5 billion with the Norwegian Road Authority to build a subsea tunnel in Rogaland County, Norway.

What is the expected timeline for the subsea tunnel project?

Construction is expected to begin in the first quarter of 2023 and be completed by the third quarter of 2029.

How deep will the Boknafjord tunnel be?

The Boknafjord tunnel will reach a maximum depth of 392 meters below sea level.

What impact does the contract have on Skanska's order bookings?

The contract will be included in Skanska's Nordic order bookings for the fourth quarter of 2022.